Lee & Associates Commercial Real Estate Services
In 1979, Bill Lee had a vision about how a real estate organization should be run. His first focus was not on the organization,
but on the customers served by it—how could their interests be
best served? The answer was simple enough. What if, he reasoned, a local division of a national real estate company was
managed and run by its owner?
From that notion, Lee & Associates Commercial Real Estate
Services was born. The firm has since expanded to encompass
39 offices located in California, Arizona, Idaho, Illinois,
Michigan, Missouri, Nevada, New Jersey, Texas and Wisconsin.
The company completed 3,708 leases between midyear 2009
TOP-PRODUCING LEASING BROKERS
PHIL COHEN, Senior Vice President-Irvine
MARK LEONARD, Principal-LA North/Ventura
JEFF SMITH, Principal-Ontario
and midyear 2010 in Southern California, representing a total
of more than $1.05 billion in transactions.
In May 2010, Lee & Associates-LA North/Ventura Inc. transacted a 313,142-square-foot industrial lease valued in excess of
$10 million in Van Nuys, CA. According to the company, which
represented a start-up tenant, the lease assignment was because
it required the flexibility to grow into a larger space without
assuming disproportionate lease costs at its inception.
Lee & Associates professionals say that “multifamily investing appears to be leading the charge in the nascent commercial real estate recovery right now, primarily due to the availability of financing and the outlook for apartment rental
increases and vacancy decreases. Multifamily housing satisfies
a very basic need and the sector is not overbuilt, so the consensus is that once unemployment begins to abate and
demand increases, rental rates will rise substantially. At the
same time, financing for these acquisitions is much more
Jones Lang LaSalle
AREA LEADER JAN POPE, Southwest Market Director
Total Square Footage of Leases Closed: 38,111,357 SF
In early summer of 2010, Jones Lang LaSalle represented landlord Decron Properties in a lease to UCLA for 80,000 square
feet of office space at Airport Spectrum in El Segundo, CA.
Chris Strickfaden of JLL says Decron is pleased about this and
other leases secured at the property because it demonstrates
the team’s entrepreneurial and creative abilities during the
worst economic downturn the industry and submarket has
seen in 20 years.
Between July 2009 and June 2010, the Chicago-based global
real estate services firm tallied 739 leases for a total of just
under $1.13 billion. During that time frame, the firm repre-
TOP-PRODUCING LEASING BROKERS
SCOT GINSBURG, Mng. Dir. of Tenant Representation-San Diego
GARY HORWITZ, Mng. Dir. of Tenant Representation-Los Angeles
JEFF INGHAM, Sr. Mng. Dir. and Orange County Market Leader
sented Murchison & Cumming LLP in a 42,162-square-foot
lease renewal in Downtown Los Angeles. Thomas McDonald of
JLL says the current commercial real estate market allowed the
tenant the opportunity to secure a long-term lease with favorable terms.
The company also represented landlord Daumosh Inc. in a
lease to Love Culture for 71,286 square feet of industrial space
at a single-tenant building in Los Angeles. Paul Sablock of JLL
says Daumosh was looking to lease its property quickly so it
could move into a new building and avoid any vacancy. The
firm was able to locate a tenant that was looking for an industrial building in the garment district, which contained significant amount of high-image office space.
According to JLL researchers, “The amount of space to
come back to the market is significantly less than it was a year
ago, indicating that the market is not getting worse.” Net
absorption for the third quarter of 2010 came in at 500,000
square feet, which is significantly less than the negative 1. 2 million square feet that was recorded in the third quarter of last
year, the firm says.